Europe is heading into winter with record-low gas and diesel reserves. The cold could hit hard.
Europe is approaching the heating season with the weakest energy reserves in recent years. According to analysts at Wood Mackenzie and Gas Infrastructure Europe, underground gas storage facilities are currently only about 50–55% full. By the start of winter, the figure will at best reach 70–75%. For comparison: on average over the past five years, storage facilities were nearly 90% full by November.